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on private equity. it's an issue we have not talked about yet. joining us now is dan primac of "fortune" magazine. >> good morning. >> so fiscal cliff, does it really matter to the world of private equity? >> it matters to the extent of if we go off of it or run into it depending on your metaphor. everyone feels we go into immediate recession, shock recession. it obviously matters because private equity succeeds or fails based on the portfolio companies in a major recession. private equity's a long-term asset class, it can survive as an industry or asset class. cycles better than most can. in general, i think everyone's kind of optimistic, believes something will get done. but there's nobody hoarding money or freaking out yet. >> what about carried interest? we keep talking about taxes and that's one component of this debate. carried interest sort of went on the table, then went off the table, maybe it comes back on the table. but it's not something we're hearing a lot about now. where do you think that issue stands? >> you know, for a long time, i've thought that the issue just works g
to the upside. >> of course, dan, everyone has said if there's this idea that washington can come together and define some sort of solution, that will make the markets buy into this confidence in washington. washington has big problems, and the solutions are probably going to mean painful medicine around. is there a moment when the markets wake up and realize and say, oh, my gosh, we have to realize we are talking about spending cuts, higher taxes and combination of these two things could lead to some troubling times for the markets too? >> well, that's going to be found out once the deal is in. let's say they had some sort of a deal and you start breaking it down. you'll have to look at how is it going to impact the economy? i imagine they're going to do it to minimize whatever impact there is. it seems to me, there's growth in this economy and we're looking for a place to spring board from it. so they're not going to want to ruin that chance. but until the details are out, we're really not going to want to know. >> we have not talked fiscal cliff with you in-depth on these things. what i
Search Results 0 to 1 of about 2